Hi,
My wife and I are filing our taxes for 2017 under status "married filing jointly".
I got a W-2 for $115,682.
My wife received a 1099-Misc for $18,410.
When I filled up my W-2 info, the Federal refund shown at top of Turbotax window was around $9,500.
Once I added the 1099-Misc info, the Federal refund reduced to around $2,000.
Am I doing something wrong? Is it expected to pay almost $8000 tax on the $18,400 income in 1099-Misc?
Please suggest.
Thank you,
RN